We moved into a new neighborhood and bought a house 2 years ago, 1900 sq ft for 275k. We are down to 169k 2 years later and I refinanced to a 15 year loan at 2.875%. My plan is to pay it off in about 5-6 more years, but all I can think about is how in about 2 more years we could have enough invested into it to move to a slightly smaller house for say 160k and have it fully paid off. Yes the neighborhood is nice but I love the idea of the house paid off.
Well here is where it gets tricky. This new neighborhood just so happens to have ENTIRELY new families w kids in abundance at the exact same age as our 2 children (3 years and 1). Every single day when we get home from work there are kids our 3 year old is friends with outside playing, and he calls them his best friends and we are friends w all the neighbors. He and my wife and I truly have excellent friends right outside our front door on any given day. This I believe is something you luck into and can't buy, as I have lived places where you hardly even ever know your next door neighbor. I couldn't imagine leaving this place at this point for my son and daughters sake, they absolutely love it, at least the son.
How do you decide, financial savings but possibly being isolated vs a few more yrs but tons and tons of friends for your kids to grow up right next door to?
You know we had a similar discussion on here about moving to a cheaper place, etc. I live in a 2BR, 1BA, 1100sf house in a bad school district. I could "trade up" to a 3/2 ~1250 sf house. It would be:
- much closer to work. We currently live 10 miles from work, and we work a block from each other.
- the same price as our current house, so we'd have some closing costs and sales costs to consider
- a larger lot
- a better school district.
Many many people here told me that now is the time to do it, before kid #2 starts school! THINK OF ALL THE DRIVING YOU'D BE SAVING. But we haven't, and why?
I LOVE MY NEIGHBORHOOD. There have been a lot of families starting here. I have 3 neighbors, love them all. Over the hedge has 2 boys that bookend my younger. My older son has 3 classmates and three other friends within 1/2 mile. Every Sunday (pm in the spring/summer, am in the fall/winter), 3-8 families in the 'hood walk to the big park at the end of the street and have a potluck. We babysit for each other. We dog sit and fish sit when people go on vacation. The friends across the street and us go on camping trips. I can walk to the beach in 20 minutes. This is my tribe!
I've heard enough friends complain here and there about their neighbors that I'm hesitant. Yes, we feel cramped (did I mention only one bathroom? And no garage.) But the hood. It is grand.